Big Things Built: A Look at CFM’s Innovations in the Banking Industry
Even before the momentous events of 2020 and 2021 shook up our world as we know it, the tectonic plates of technology were already shifting and reshaping the world of banking. The pandemic only accelerated the prioritization of improving customer experience and operational efficiency.
Now, as we continue into this "new normal," one question arises: how is CFM responding to the seismic shifts affecting the banking industry?
By uncovering the pain points financial institutions face in the modern world and providing innovative technology solutions to free traditional banks and credit unions from the traditional barriers built up over the past century.
Our goal is to make banking easier for the financial institution and the client with integrated retail banking technologies.
This is fitting, considering one of the significant challenges facing banks and credit unions is non-integrated technology. Without an integration banks and credit unions are forced to use unreliable screen-scraping and end-of-the-night balancing.
Introducing: S4 + NORM
Enter S4 + NORM, the backbone to all of our technology. An extra-proprietary, agnostic integration between cash handling hardware and core processing software, S4+NORM is the only true enterprise, web-based solution that integrates cash-handling hardware directly to banking cores. Meaning you can now drive 1 or 5,000 devices with a single install, and eliminate individual workstation drivers, screen-scraping, and dual entry processes for good.
- S4 improves teller efficiency by reducing manual tasks and automating balancing through a direct teller application and cash recycler integration.
- NORM (patented technology) brings all hardware onto the network, ensuring faster processing speeds and eliminating disruption during network outages.
By implementing S4 + NORM, our clients are no longer making mistakes and costing their financial institutions money. Instead, these integrated clients see reduced errors, spend less time to close the workday, and are never out of balance.
RTA (Remote Transaction Assist), our proprietary software (and a recipient of FinTech Product of the Year), allows associates to complete transactions by leveraging any cash dispensers and recycler from anywhere in a branch using a pin pad and queuing technology. So instead of cold hand-offs between tellers and bankers, clients are served from start to finish—no waiting in line or sitting alone in the office for the associate to return.
Financial institutions invest millions of dollars in technology, yet struggle to answer simple questions on how their investment is performing. Are the machines being used properly? Which type of machine works the best? Is service or maintenance needed to avoid a breakdown? How much cash do you need in the machine? This lack of visibility leads to added costs, more downtime, and wasted efforts.
Sound familiar? If so, it sounds like you need iQ. A one-of-a-kind analytics tool, iQ gives you actionable data in an easy-to-read dashboard to quickly see business-critical information.
You’ve heard about the Universal Associate model, right? (If you haven’t, check out our resource library!)
One thing that makes the Universal Associate model successful is its flexibility for staff to complete client transactions. However, this is a challenge—mainly because staff are tethered to physical workstations.
The secret to achieving this model? Leveraging the right technologies, like a tablet-based teller platform. CFM offers this tech too! NOMADIX is a core-integrated, tablet-based application (just named 2022 FinTech Product of the Year) that allows employees to perform transactions from anywhere in the branch using a handy-dandy tablet with an incredibly intuitive platform inside.
As the costs of branch transactions soar, it is time to make the switch to more cost-effective and efficient ways of completing transactions: self-service solutions. But don’t fall into the trap of investing in expensive kiosks that are not
CFM offers a core-integrated software that you can place inside your preferred self-service kiosk. Known as GENIX, this software helps you migrate to more efficient channels without sacrificing the personal touch needed to engage clients. How? By offering self-service, assisted-service, and full-service capabilities to complete transactions like:
- Log in using debit card, driver’s license, or biometrics
- View account activity
- Print account history and receipts
- Deposit cash and checks
- Withdraw cash in any denomination
- Make change, to the penny
- Print cashier’s checks
- Transfer money between accounts
- Pay bills
- Request associate assistance
- And a lot more!
Fun fact: GENIX pairs with NOMADIX, unlocking the ultimate retail experience.
An Agnostic Approach
CFM takes an agnostic approach to hardware. Our software can integrate and drive all devices, meaning we’re not limited to one hardware manufacturer. Our integrations have an expanded footprint in cash recyclers, self-service kiosks, teller peripherals, check scanners, receipt printers, and cashier check printers. This way, banks and credit unions have their choice of hardware with teller workflows that are the same across all branches and devices.
Are you ready to innovate your branches with retail technology? Let CFM be your guide with our innovative technology and help transform your financial institution.